I am not quite sure why countries would be banning it though. It has nothing to do with them. I understand China putting breaks on it, but it doesn't really concern any of the governments because whoever gets involved with any of those currencies do so at their own risk. It's like banning any other digital product/tool.

I can see China doing so, because , well, they're rather controlling of everything.
I can see NK doing this eventually (if it's even allowed there?)

As for others:
I think the point here is to try to reign in the mess that is digital currency, to look after their citizens, as they should be doing.

As it is now, it is far , far too risky for anyone to place faith in digital currency. I've said this before, and I'll maintain it until the day it becomes a legitimate payment source, regulated as are any official currency.

If I chose, say, to put faith in the stock market, and my stocks fell, that's on me, yes. However, that's highly regulated, meaning that the odds of something like what's happened with BC over the past few weeks, is somewhat unlikely. Not impossible, just unlikely.

The goal here I would say is protection. People are just damn stupid today, and need protection, as it were, from things like this, that can go sideways quickly.

I can see China doing so, because , well, they're rather controlling of everything.
I can see NK doing this eventually (if it's even allowed there?)

As for others:
I think the point here is to try to reign in the mess that is digital currency, to look after their citizens, as they should be doing.

Risky? Yes. And I think the governments should educate the populations on risks. But to guard them against that? If they really wanted to look after their citizens, why not shut down casinos, alcohol stores and ban cigarettes.

A number of countries have made such statements to warn their citizens of high risk, including prominent investors and entrepreneurs, but unless something is unlawful, gov-t has no business banning it. IMHO.

They don't, because just like real money, there are also a lot more other people who invested in crypto market and doing so for legitimate reasons.

the same with Liberty Reserve a lot of genuine people lost out when it was taken down.

Quote:

Liberty Reserve was a Costa Rica-based centralized digital currency service that billed itself as the "oldest, safest and most popular payment processor, serving millions all around a world". The site had over one million users when it was shut down by the United States government. Prosecutors argued that due to lax security, alleged criminal activity largely went undetected, which ultimately led to them seizing the service.

In May 2013, Liberty Reserve was shut down by United States federal prosecutors under the Patriot Act after an investigation by authorities across 17 countries. The United States charged founder Arthur Budovsky and six others with money laundering and operating an unlicensed financial transaction company. Liberty Reserve is alleged to have been used to launder more than $6 billion in criminal proceeds during its history.